In the ever-changing world of blockchain Web 3.0, staying up-to-date on the latest news is a daily must-do for many investors. This not only helps to grasp investment trends, but also to understand and avoid risks. Clearly, our need for excellent content creation is long-term, and we seek faster speed, more accurate information, and better content.
Although there are many excellent content platforms and protocols available, such as Mirror and Lens, the overall value of Web 3.0 creator economy projects is undervalued. According to statistics, last year there were about 110 projects in the Web 3.0 creator economy field that received funding, totaling about $662 million, accounting for less than 3% of the total financing in the 2022 crypto market. This indicates that the current Web 3.0 creator economy is in its infancy and is a blue ocean market with great potential, well worth exploring for potential opportunities.
In this article, the veDAO Research Institute will take you through the Creatorfi – the creator economy blue ocean track and take stock of the ecological projects worth paying attention to, sharing potential investment opportunities with you.
Creator Finance, the creator economy of Web 3.0, is an economic model that combines social and content creation. It has four creative advantages compared to Web 2.0 creator traffic economy:
The content uploaded by creators in Web 3.0 is stored in a decentralized manner, permanently on the chain, and the creators have ownership and control over the content. Creators can create NFTs from their content for release, achieving uniqueness, and smart contracts and creating wallet addresses have some rights to confirm ownership.
The strong protection of original content in the Web 3.0 creator economy. After the creation content is uploaded to the chain, a unique smart contract address is generated, directly eliminating the problem of Web 2.0 content platforms infringing on the interests of original creators. Referencing content and making secondary creations will be more convenient, and a healthy creative economic environment can be built.
Since creators can sell content works combined with the uniqueness of NFTs, the platform’s tipping mechanism and token reward mechanism will provide revenue rewards for high-quality content creators. There is no longer any concern about works being diverted to different platforms, and rewards follow the contract address, pointing to the unique creator address.
Incentive tipping stimulates high-quality content creation. In the Web 3.0 world, content social platforms will reward outstanding works based on specific indicators, providing NFTs, tokens, and other ways to encourage creators to produce high-quality content that meets market demand. Similarly, users can directly tip content they like and directly support creators to continue producing.
Analysis of Potential Projects
Based on the potential, highlights, and financing of different Creatorfi projects in 2023, we have selected several projects worth introducing and analyzing.
StoryCo, formerly known as Story DAO, is an open media storytelling platform. Creators can publish their own story works, realize the sale of digital works, own unique IP, and expand and govern it. It allows the audience to collaborate, remix, and branch on stories, and then decide together whether the content will be adopted through community members, which will expand the IP to a more open stage. The website avoids most Web3 terms, referring to NFTs as StoryBlockings. Holders can access the project’s treasury, which includes NFT sales, IP licensing revenue, and royalties, and may even bring IP to the Hollywood screen.
On January 26th of this year, StoryCo announced the completion of a $6 million seed round of financing. The project has not yet disclosed any information about the issuance of coins, which is worth following up on.
The day after the completion of the seed round of financing, the official announced that the first story passport, The Disco Ball’s StoryBlockingss, had opened for application. This is a free but non-tradable NFT. Players with this passport can participate in story exploration. Everyone interacts and contributes during the process of exploring the story, forming data called “story moments,” which will be recorded in the passport as a voucher for participation and future rewards. When the interactive exploration process of The Disco Ball story is complete, a set of NFTs called Astronauts will be issued. Holding the Astronaut NFT makes you a member of The Disco Ball DAO. The most active users in the story exploration process will have the opportunity to receive the Astronaut NFT as a gift. The remaining NFTs will be sold, and the amount sold will form the initial treasury of the DAO for the development of the IP. All future income generated around this IP, such as subsequent NFT sales, royalties, and IP authorization fees, will return to the DAO’s treasury and be jointly decided by DAO members.
The Disco Ball is the first team-incubated IP launched on StoryCo, which guides users’ participation. For example, it defines professional roles such as story architects, story artists, story musicians, and producers, which can better help users find the most suitable position and play their creative value in different roles. The founding team from Hollywood background also explained that the emergence of future IPs will not only come from the platform’s own incubation, but can also be completely created by the community, or can be an extension of existing mature IPs, or can be based on story filling of already released NFT projects, etc., which is a very open and diverse IP creation environment. Learn more about the project through veDAO: https://app.vedao.com/projects/3728950b888f64d958fb0ed66f4a4a863381af373a48a6ed6c5aca8c744fa6d0
REPUBLIK is a one-stop content platform where creators can connect with their audiences and earn higher returns. Its ecosystem rewards creators and their viewers for their contributions to the platform in a unique way, allowing everyone to earn income by interacting with content, recommending and sharing it with friends, and supporting creators.
According to data statistics, in 2023 REPUBLIK launched the pre-selection of creators for the Spinball, and more than 500 people joined the founding community, bringing a total of over 50 million in influence. And since its launch in November 2022, more than 85,000 users have registered to use its Alpha version in three months, achieving rapid growth.
On March 3 of this year, REPUBLIK announced that it had raised $3.7 million in its seed round of financing and raised its valuation to $75 million.
The token RPK will be established on the BSC chain and will have the following main functions:
Tokenized interaction between creators and audiences, such as buying works and tipping;
Platform governance: holding RPK is equivalent to holding shares of the platform and having voting rights to change development policies through community governance;
Rewards and incentives: XP rewards and token airdrops will be distributed in RPK form to align the interests of stakeholders with the platform’s interests;
On RepubliK, creator tokens and NFTs are essentially bound to the RPK pool, ensuring that their value will never be lower than the value of RPK in that pool. This direct binding mechanism prevents the devaluation of creator tokens and NFTs, providing stability and security for their value.
According to the white paper, the total supply of RPK is 3,000,000,000, of which:
5% is used for public offering;
12% is used for private offering;
10% is used for market operation and expansion;
20% is used for operation and development;
38% is used for content creation rewards, XP reward airdrops, etc. on the platform;
15% is used for team allocation.
Airdrop rewards and tokenization functions will be deployed in the third quarter of 2023. According to the Roadmap, airdrop rewards will be added and deployed in July of 2023, beta versions with tipping functions will be launched in August, RPK token generation will be conducted in September, and RPK will be listed on exchanges in November. It is recommended that everyone pay attention to this project, participate in the airdrop rewards starting in July, assess the investment potential based on the feedback from beta versions in August, and the veDAO Research Institute will also share its views on the token sale to be conducted in September.
Learn more about the project through veDAO: https://app.vedao.com/projects/6955cdd23043e3b547fd28a4f7207976ee2b9ab2f6db8bdca86e61c7c7899e35
Cheelee is a short video platform designed with GameFi elements and a Watch to Earn mechanism. Users can earn token incentives by watching and generating game video content through their NFT glasses, similar to ReadOn. The platform claims that its goal is to enable all users to make money on social networks and to obtain income from attention and content economics.
Cheelee will provide a pair of NFT glasses for free to every new user. The glasses can detect the viewing time of videos, and the corresponding points are converted according to the duration and exchanged for token rewards. Users can also use tokens to upgrade the functions of the glasses, such as lenses, frames, memory, etc. Its gameplay is similar to that of move-to-earn games like STEP, where users can upgrade their shoes to improve their earning capabilities and purchase new shoes. The economic model also uses a dual-currency model.
Dual-currency economic model:
The governance token CHEEL has a total issuance of 1,000,000,000. Through this governance token, the community can vote on important issues related to the platform’s development based on DAO principles to achieve effective governance. As of now, the coin price is $15.64, an increase of nearly 80% compared to its initial listing, and it is at its historical high.
LEE is a utility token with a maximum supply of 7 billion. All transactions within the platform are carried out using LEE, including reward acquisition, purchasing items, and upgrading glasses. The difficulty of obtaining new LEE tokens depends on the algorithm and the number of tokens minted. The more tokens that are minted, the harder it is to obtain new LEE tokens. The price of the token is relatively stable, fluctuating slightly around $2.6.
This month, Cheelee raised $10 million in funding, just seven months after its previous round. The funds will be used to accelerate development and marketing of Cheelee’s vertical video social network application. To date, Cheelee has raised a total of $32.75 million in funding. In November 2022, Cheelee completed an $8 million equity financing round and received $1.3 million in VC funding. As a start-up in the Web3 industry, Cheelee’s ability to raise such a large amount of funding demonstrates significant institutional support for the project. The company’s founder, Roman Alekseev, also co-launched the $200 million “Crypto Winter Solidarity Fund” with the mobile app NUTSon in the Web2 industry, demonstrating the project’s attitude and expectations for the development of the cryptocurrency industry ecosystem.
According to the Roadmap outlined in the whitepaper, the main goal for 2023 is to continue the foundation laid out previously and ultimately target the market. Q1: Application release and token listing, web market release. Q2: Provide an NFT path for fiat currency purchases (P2P and direct). Q3: Enrich donation, live broadcast, box, and advertising cabinet functions. Q4: Developing NFT avatars and metaverse.
Currently, Cheelee is more focused on “Watch to Earn,” and the development of the “Create to Earn” part is not yet clear. However, from the design of the application, it appears to be a TikTok that integrates STEPN gameplay in Web3.0. We believe that the market for content creation will inevitably become another focus. Cheelee has entered the short video field and has such strong financing capabilities, and its future influence on Creatorfi cannot be underestimated.
Learn more about the project through veDAO: https://app.vedao.com/projects/19eedb35701ddcae8c4b0ca6fa0b9ffc1f635405a684dccae78fa7c7ece2c912
PoPP is a Web3.0 creator community application that uses Web3 technology and AI tools to create a one-stop private domain community program for creators that is convenient to manage, free to express opinions, data never lost, and can co-create and share wealth with fans. PoPP is committed to building a creator economic ecology, with the aim of giving every work and contributor the respect and rewards they deserve.
PoPP was born on February 1, 23 and completed a $4 million angel round of financing on May 25, which will support product research and development, creator incentives, and other investments after PoPP goes live. After this round of financing, PoPP’s valuation has reached $40 million. The beta version of the application has already been launched on the IOS APP STORE, and global public testing began on June 13. PoPP will automatically distribute rewards to creators in a reasonable manner, creating an integrated creator community tool and a one-stop content sedimentation application program, using Web3 and AI technology to support a large community.
PoPP’s plan for Q3 of 23 is to launch its “Explorer Series” NFT and list it on OpenSea, OKX, and Bitkeep, NFTizing organizational relationships and governance, and achieving multi-level identity co-governance of the planet. In Q4, more focus will be on improving the profit distribution mechanism and consensus mechanism of the content creation fund pool. Although there has been no mention of the issuance of its tokens, PoPP currently has two major activities underway, and there are many airdrop rewards to be obtained:
1. Ten Million Creator Cultivation Plan
During the public testing period, users who successfully apply and create a private domain planet can invite fans to join. The user with the top number of fans can receive a $1500 equivalent airdrop voucher NFT reward, users ranked 2nd to 10th in number of fans can share a $2700 airdrop voucher NFT bonus pool, and users ranked 11th to 100th can share a $10,000 NFT airdrop voucher bonus pool. In addition, users within the top 100 can receive a PoPP equity NFT airdrop, and the top user can receive an additional three.
2. Genesis Plan
This is an incentive plan for Kols and communities, content creators, influencers, platforms, etc. If you successfully become a PoPP creator and have your own private domain planet, you can earn a certain percentage of all PoPP protocol fees paid by them in the future when someone joins your planet channel and takes actions such as creating a list or purchasing NFTs, with a maximum rebate of up to 50%.
For KOLs, they can share 100,000 USDT in airdrops and receive corresponding rebate airdrops directly through community management. For followers, they can benefit from NFT sales distribution, reward airdrops directly from POPP, and participate in other tasks and prizes.
Learn more about the project through veDAO: https://app.vedao.com/projects/7df26b2a622a494b64bff6caddf68af7e6b1757be0cdee6950571d8e704d9977
Creatorfi emphasizes not only the economy of content creation but also the integration of social interaction to create 3D stereoscopic influence and economic effects. The current creator economy in Web3.0 is still in its infancy, with a small audience and a small number of participating users compared to NFT and Defi, leading to a lack of content production and a lack of a well-established economic value creation cycle. However, there are few strong competitors and many market play methods, and the overall situation is still an interesting blue ocean waiting to be developed. It is also believed that with the advancement of these several high-quality projects this year, more attention can be focused on Creatorfi, and perhaps the next popular project will be on the Creatorfi track.